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01-04-2010, 04:42 PM #1
Renter
- Join Date
- Jan 2010
- Location
- Chicago
- Posts
- 2
prices seem to have a crash afterglow
OK, I want to buy a 2 flat for my daughter, interest rates are low, BUT PRICES? These were 200K 10 year ago, went to 375-400K, and have now comeback to 275-300K. That is still a 5% yeild over almost a decade, of as Greenspan said, "excessive exuberance"? I graphed the prices and they match the Metro curve almost exactly, from 139K to 262K, and back to 202K. A recent WSJ article projects another 10% next year. The stats look like we have just shaved off the top, your thoughts please. Thank you.
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01-05-2010, 02:40 PM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
This is my second recession selling real estate and the prices typically don't ever go all the way back to where they where before the boom. So what you are seeing is correct.
The icing is getting skimmed off the cake but the values are still up from the previous low. Real estate is local so this may not apply everywhere.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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